Some immigration lawyers have seen a new increase in the number of Chinese seeking foreign citizenship, a trend they suggest is tied to worries about political turmoil and economic slowdown in China, especially among businesspeople and politicians seeking to protect their families and wealth.
"There's definitely a surge in China for what I call 'let-me-out-now' product," according to Jean-Francois Harvey, an immigration lawyer based in Hong Kong who deals with clients throughout Asia.
The recent interest builds on a trend of growth in applications from Chinese seeking to emigrate to places like the US, Canada and the UK in recent years, including to programs that promise citizenship in exchange for investments. In the US, 75 percent of investor-immigrant applicants were from China in fiscal 2011.
The rush to apply to the US investor immigration program, known as the EB5 visa, is also partly prompted by Washington politics. The plan has to be reauthorized by Congress in September for it to continue, but applications filed before that date will still be considered. Last time the program was up for review, in 2009, there was a big spike in applications.
Under the program, applicants and their immediate families receive permanent US residency if an investment of at least $1 million in the US leads to 10 full-time jobs within two years. The requirement is only $500,000 if the US jobs created are in a rural or high-unemployment area.
There is little information on the identities and actual numbers of Chinese seeking to leave, but participants in the industry that has grown up around such requests say they have seen increased activity in the weeks since the Communist Party's ouster of senior party official Bo Xilai, which adds to a general feeling of uncertainty ahead of a once-a-decade leadership transition in the fall.
Harvey and other lawyers say clients rarely give a reason for wanting to leave, which makes it difficult to say whether the latest headlines are helping to drive the push, though they say anecdotal evidence suggests they are a factor.
"The political situation heightens anxiety, and the wealthy people head for the visas," according to Richard Kurland, an immigration lawyer based in Vancouver, British Columbia, who said he has seen a rise in inquiries in recent weeks.
More Wealthy Chinese Said to Seek Investor Visas - WSJ.com
Very interesting article. All that shines is not gold. Interesting to hear from those who predicted dollar doom, end of america
"There's definitely a surge in China for what I call 'let-me-out-now' product," according to Jean-Francois Harvey, an immigration lawyer based in Hong Kong who deals with clients throughout Asia.
The recent interest builds on a trend of growth in applications from Chinese seeking to emigrate to places like the US, Canada and the UK in recent years, including to programs that promise citizenship in exchange for investments. In the US, 75 percent of investor-immigrant applicants were from China in fiscal 2011.
The rush to apply to the US investor immigration program, known as the EB5 visa, is also partly prompted by Washington politics. The plan has to be reauthorized by Congress in September for it to continue, but applications filed before that date will still be considered. Last time the program was up for review, in 2009, there was a big spike in applications.
Under the program, applicants and their immediate families receive permanent US residency if an investment of at least $1 million in the US leads to 10 full-time jobs within two years. The requirement is only $500,000 if the US jobs created are in a rural or high-unemployment area.
There is little information on the identities and actual numbers of Chinese seeking to leave, but participants in the industry that has grown up around such requests say they have seen increased activity in the weeks since the Communist Party's ouster of senior party official Bo Xilai, which adds to a general feeling of uncertainty ahead of a once-a-decade leadership transition in the fall.
Harvey and other lawyers say clients rarely give a reason for wanting to leave, which makes it difficult to say whether the latest headlines are helping to drive the push, though they say anecdotal evidence suggests they are a factor.
"The political situation heightens anxiety, and the wealthy people head for the visas," according to Richard Kurland, an immigration lawyer based in Vancouver, British Columbia, who said he has seen a rise in inquiries in recent weeks.
More Wealthy Chinese Said to Seek Investor Visas - WSJ.com
Very interesting article. All that shines is not gold. Interesting to hear from those who predicted dollar doom, end of america
Zionist 
